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Bank-Owned Sales Continue To Decline in 2015 (and what that means for smart real estate investors)

Bank-Owned Sales Continue To Decline in 2015 (and what that means for smart real estate investors)

By admin/ In Dec 04 2015

Bank Owned Properties and Short Sale Inventory is shrinking away in most US home markets. The latest numbers show the 5 markets the are bucking that trend.

In October 2015, 8.1 percent of all sales were bank-owned (REO) single family homes and condos. This was unchanged from the previous month but down from 10.6 percent of all sales in October 2014. The October median sales price of a bank-owned home was $121,000, 42 percent lower than the overall median home sales price during the month.

Markets bucking the national trend with a year-over-year increase in share of short sales included Springfield, Massachusetts, Ocala, Florida, Worcester, Massachusetts, Baton Rouge, Louisiana and Fayetteville, North Carolina.

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MATT ANDREWS is a real estate investor, serial entrepreneur, growth hacker, film producer, and #1 bestselling author. He is best known for the “Real Estate Investors Guide” book series, the Real Estate Freedom Podcast, and founder of Real Estate Freedom.